Schaeffer's Trading Floor Blog
Stocks quoted in this article:

Tim says - "FYI - SBUX has broken south of a "flag" set-up and is now testing support at around 50."

My response - Good catch! I last looked at Starbucks last month as the stock was testing resistance from its 20-week moving average which was aligned with the peak calls at 55. Here is an updated version of that chart...


Created with SuperCharts by Omega Research

The 10-week (black line) average has now completed a bearish cross below the 20-week (green line) moving average.

As Tim notes, the shares are testing chart support near 50 which is also the site of the peak April puts. The scorecard reading has now dropped to 5 so I would be wary of a break below support...

<

permanent link
Stocks quoted in this article:

I am still intrigued by the weakness in IBM...earlier this week I noted the chart...


Created with SuperCharts by Omega Research

...which isn't getting any "better"...I ended the post above by saying - "Maybe its just me, but this is starting to resemble a downtrend..." and the chart has yet to prove me wrong...


permanent link

Still Sliding

by 4/8/2005 2:24 PM
Stocks quoted in this article:

The bulls continue to struggle to hold the ground they earned this week...


Chart Courtesy of Thomson/ILX

Another bout of selling has pushed the major indices to new session lows. The SPX is now creeping in on short-term support near 1184 which as I said earlier was Wednesday's closing level and yesterday's low...

<

permanent link
Stocks quoted in this article:

Things are still relatively quiet. A NYSE net ticks spike hit recently but nothing really came of it as the indices appear to be basing near their session lows. Here are today's top and bottom performing Exchange Traded Funds (ETFs)...

Top Performing Sector Exchange Traded Funds:

  • iShares Lehman 20+ Year Treas Bond (TLT) = +0.32 percent
  • iShares C&S Realty Majors (ICF) = +0.30 percent
  • iShares GS Semiconductor (IGW) = +0.22 percent
  • streetTRACKS Gold Shares (GLD) = +0.19 percent
  • Wireless HOLDRS (WMH) = +0.09 percent
  • Semiconductor HOLDRS (SMH) = +0.09 percent
  • iShares GS Networking (IGN) = +0.04 percent
  • iShares DJ US Cons Goods (IYK) = +0.02 percent

Bottom Performing Sector Exchange Traded Funds:

  • iShares Russell 2000 Index (IWM) = -0.81 percent
  • Energy Select Sector SPDR (XLE) = -0.83 percent
  • iShares DJ US Basic Materials (IYM) = -0.82 percent
  • Materials Select Sector SPDR (XLB) = -0.82 percent
  • Biotech HOLDRS (BBH) = -0.83 percent
  • iShares DJ US Energy (IYE) = -0.96 percent
  • Oil Service HOLDRS (OIH) = -1.06 percent
  • iShares DJ Transportation Average (IYT) = -2.40 percent

As you can see, the top performing groups are barely above breakeven. The bottom performing list reflects the weakness we already noted on the small caps and transports while we also see some declines in oil services and energy.

Note: If you are not familiar with ETFs, make sure you read the Education and FAQ sections in our ETF center.

<

permanent link

Index Check

by 4/8/2005 12:39 PM
Stocks quoted in this article:

Updating my index chart....

We see an all around negative bias with only gold and gold stocks showing gains at midday...perhaps the most interesting aspect is that oil is leading the charge lower...oil stocks are relatively flat while natural gas concerns pull back...small caps (RUT) are struggling...

<

permanent link
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

Partner Center

© 2014 Schaeffer's Investment Research, Inc. 5151 Pfeiffer Road, Suite 250, Cincinnati, Ohio 45242 Phone: (800) 448-2080 FAX: (513) 589-3810 Int'l Callers: (513) 589-3800 Email: service@sir-inc.com

All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.

Market Data provided by QuoteMedia.com | Data delayed 15-20 minutes unless otherwise indicated.